Airline seeks fourth extension
Advertiser Staff
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Hawaiian Airlines asked yesterday for a fourth extension to negotiate more favorable aircraft leases with Boeing Capital Corp., the last of three companies to agree to restructure aircraft leases and help the airline emerge from bankruptcy.
Earlier this year, Hawaiian Airlines completed its switchover to Boeing 767 jetliners for its trans-Pacific flights. A bankruptcy judge now will decide whether to give Hawaiian more time to avoid repossession of several 767s.
The airline needed another extension to avoid repossession of several of its Boeing 767 aircraft used for trans-Pacific service. The extension, if approved by a bankruptcy judge, would run through Sept. 30.
Hawaiian also formalized a previously tentative agreement with International Lease Finance Corp. to amend four 767 aircraft leases. Lease terms were filed under seal, but Hawaiian said in the filing that the amended leases are economically favorable and would fit with the airline's revised business plan.
Hawaiian filed for Chapter 11 bankruptcy protection in March, saying it needed more favorable aircraft leases.
In May, the airline restructured leases for seven 767s with Ansett Worldwide Aviation Services Inc.
